,,ii  #aai? ,,congress  #b;d ,session   
,s4 #chca  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,febru>y #aa1 #bjbf,mr4
 ,gallego 7= himself & ,mr4 ,r\nds7     
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs  ,a    
,,bill  ,to am5d ! ,securities ,ex*ange 
,act ( #aicd to require issu]s ) a      
multi-class /ock /ructure to make c]ta9 
disclosures 9 any proxy or cons5t       
solicitation mat]ial1 & = o!r purposes4 
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,enhanc+ ,multi-,class ,%>e           
,disclosures ,act4  #b4 ,disclosure     
relat+ to multi-class %>e /ructures     
,section #ad ( ! ,securities ,ex*ange   
,act ( #aicd 7#ae ,u4,s4,c4 #ghn7 is    
am5d$ by add+ at ! end ! foll[+3  7l7   
,disclosure = issu]s ) multi-,class %>e 
/ructures  7#a7 ,def9ition ,9 ?is       
subsection1 ! t]m multi-class %>e       
/ructure means a capitalization /ructure
 t conta9s #b or m classes ( securities 
t h diff]+ am\nts ( vot+ rights 9 !     

election ( directors4  7#b7 ,disclosure 
,! ,commission %all1 by rule1 require   
ea* issu] ) a multi-class %>e /ructure  
to disclose ! in=mation describ$ 9      
p>agraph 7#c7 9-- 7,a7 any proxy or     
cons5t solicitation mat]ial = an annual 
meet+ ( ! %>ehold]s ( ! issu]2 or  7,b7 
any o!r fil+1 z ! ,commission det]m9es  
appropriate4  7#c7 ,cont5t ,a disclosure
 made "u p>agraph 7#b7 %all include1 )  
respect to ea* p]son :o is a director1  
director nom9ee1 or nam$ executive (fic]
 ( ! issu]1 or :o is a b5eficial own] ( 
securities ) #e p]c5t or m ( ! total    
comb9$ vot+ p[] ( all classes (         
securities entitl$ to vote 9 ! election 
( directors ( ! issu]-- 7,a7 ! numb] (  
%>es ( all classes ( securities entitl$ 
to vote 9 ! election ( directors        
b5eficially own$ by t p]son1 express$ z 
a p]c5tage ( ! total numb] ( ! out/&+   
securities ( ! issu] entitl$ to vote 9 !
 election ( directors2 &  7,b7 ! am\nt (
 vot+ p[] held by t p]son1 express$ z a 
p]c5tage ( ! total comb9$ vot+ p[] ( all

 classes ( ! securities ( ! issu]       
entitl$ to vote 9 ! election (          
directors4  4